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Elaine is confronted with cake from two separate celebrations at her workplace; tired of the forced socializing, she calls in sick the next day. Jerry and George go to their old high-school hangout, Mario's Pizza Parlor, for one last slice of pizza before it closes down. Kramer has visited the police station where he obtained some caution tape used for crime scenes and also heard about a serial killer nicknamed "The Lopper" who is on the loose in the Riverside Park area.

At Mario's, George discovers he still has the high score on the old Froggervideo game, with a score of 860,630 points; both Jerry and he remember that they stopped going to Mario's because he had a tendency to insult his customers. Elaine's co-workers give her a cake to celebrate her return to work from being sick, but she refuses to take part in any future celebrations. Jerry dates Elaine's friend Lisi (Julia Campbell) and discovers that she's a sentence-finisher: "It's like dating Mad Libs!" After lamenting that his shrine will be gone, George decides to buy the Frogger machine to preserve his fame, but Jerry asks how he will move it and keep it plugged in to preserve the high score. Kramer discovers that the last victim of the Lopper looked a lot like Jerry.

George works to find a solution to his Frogger problem, and Kramer volunteers the help of a man he knows named "Slippery Pete" (Peter Stormare). Missing the 4:00 sugar-rush she had become used to from all the celebrations, Elaine raids her boss Peterman's refrigerator, where she finds a piece of cake. Later, Peterman reveals that it's worth $29,000 because of its historical significance: it's from King Edward VIII's wedding to Wallis Simpson.

Jerry wants to break up with Lisi, then discovers she lives in the Riverside Park area. To avoid the Lopper, he takes her back to his place, where she finishes one of his thoughts that takes their relationship to the next level. Elaine tells Jerry and George about the cake, then tells Jerry that Lisi is planning a weekend trip for them to Pennsylvania Dutch country. Jerry fears that Lisi received the wrong message; a trip like that means it is a serious relationship! Elaine tries to even out Peterman's slice of cake, but gets swept up in the moment and finishes it off. George and Kramer meet with Slippery Pete and truck driver Shlomo (Reuven Bar Yotam), to coordinate the movement of the Frogger machine. Elaine later looks for a replacement for Peterman's cake, and Kramer suggests an Entenmann's cake.

Jerry goes to Lisi's apartment, where he tries to break up with her. Jerry is finally ready to leave 10 hours later, and dark, and as he exits the apartment, he sees a man whom he fears is the Lopper and pleads that Lisi let him back inside; the man turns out to actually be just "Slippery Pete". Peterman is bewildered when he has his piece of cake appraised at $2.19. George finds "Slippery Pete" playing his Frogger game on battery power until only about 3 minutes of power remain. The only available power source is across the busy street, and Kramer has run out of caution tape. Convinced he does not need any help, George starts moving the machine across the busy street, moving through traffic like the frog from the video game. However, as George reaches the opposite sidewalk, he is unable to lift the game onto the curb; an oncoming Freightliner smashes the game cabinet, causing Jerry to quip, "Game over".

Peterman shows Elaine surveillance videotape of her eating and "dancing" with the slice of cake. He is convinced that the effect of such a "vintage" cake on her digestive system will be all the punishment she needs and dismisses her from the room.

The sound effects during George's moving of the machine are actual sounds from Frogger, played in time with his movements. The sound that plays shortly after the machine is smashed by a truck is the "squash" sound when the frog is hit by a vehicle during the game. On September 24, 2005, The Twin Galaxies Intergalactic Scoreboard issued a colorful poster that offered a $1,000 cash prize to the first video game player who could break George Costanza's fictional Frogger high score of 860,630 points as portrayed in "The Frogger". No player was able to break this mark before the December 31, 2005, deadline.

On December 22, 2009, Pat Laffaye of Westport, Connecticut, USA, scored a Froggerworld record high score of 896,980 points.[1] His score was beaten by Michael Smith, who scored 970,440 points on July 15, 2012.[2] Laffaye again retook the Frogger world record with a high score of 1,029,990 on August 15, 2017.[3] These are the only three scores that have been verified as having beaten the fictional George Costanza Seinfeld score.

Jason Alexander performed his own stunt in this episode, actually diving out of the path of an oncoming truck and being showered with the shrapnel of the crushed Frogger machine as the truck ran it over. He later recounted that two large and heavy pieces of paneling from the side of the game landed uncomfortably close to his head during the shooting of this scene.

Most scenes deleted from this episode involved Kramer attracting a new "long distance" girlfriend; this carries over to the next episode "The Maid".